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Reproduced from BloombergNEF; Chart: Axios Visuals

Investments into clean-energy technologies totaled more than $500 billion for the first time ever, according to a BloombergNEF report released Tuesday.

Why it matters: Technologies making energy and other material cleaner needs to expand rapidly if the world is to adequately address climate change in the coming decades.

Where it stands: If this sounds familiar, that's because it is.

  • This report comes on the heels of another one we wrote about last week that showed another record broken, specifically looking at venture capital investments.
  • Investments are accelerating due to a series of overlapping factors, such as falling costs and increasing political goals, including here in the U.S. under President-elect Joe Biden.

By the numbers: Global investment in the low-carbon energy transition was $501.3 billion in 2020, up 9% from 2019 despite the pandemic driving the world into a recession.

  • This tally includes investments in renewables, energy storage, electric vehicle charging stations, hydrogen production, carbon capture projects and more.
  • The largest areas of investment are renewable energy and electrified transportation.

Yes, but: The report also reflects another broader trend, which is that investment often lags in technologies beyond renewable electricity and electric cars. This includes carbon capture and most industrial processes like cement, according to the International Energy Agency.

Go deeper: VC investments into climate change technologies reach record high

Go deeper

Ben Geman, author of Generate
Jan 28, 2021 - Energy & Environment

GM plans to end sales of gasoline powered cars by 2035

GM CEO Mary Barra at the GM Orion Assembly Plant plant for electric and self-driving vehicles in Michigan. Photo: Bill Pugliano/Getty Images

General Motors is setting a worldwide target to end sales of gasoline and diesel powered cars, pickups and SUVs by 2035, the automaker said Thursday.

Why it matters: GM's plan marks one of the auto industry's most aggressive steps to transform their portfolio to electric models that currently represent a tiny fraction of overall sales.

Updated 32 mins ago - Politics & Policy

Omicron dashboard

Illustration: Brendan Lynch/Axios

  1. Health: Transplants rebound from COVID lull
  2. Vaccines: WHO: No evidence that healthy children, teens need boosters — Kids' COVID vaccination rates are particularly low in rural America
  3. Politics: Government website for free COVID tests launches early
  4. World: Greece imposes vaccine mandate for people 60 and older
  5. Variant tracker
33 mins ago - Politics & Policy

Schumer pushes for doomed filibuster changes

Senate Majority Leader Chuck Schumer addressed reporters on Tuesday. Photo: Bill Clark/CQ-Roll Call, Inc via Getty Images

Senate Majority Leader Chuck Schumer told the Democratic caucus Tuesday night he plans to propose instituting a one-time "talking" filibuster requirement, and bypassing the 60-vote threshold for major legislation, to pass the party's election reforms package via simple majority.

Why it matters: While Schumer acknowledged both votes are expected to fail — and some vulnerable Democrats up for reelection feel it will put them in a tough spot — he argued it's worth putting members on the record for historic legislation.